§ 407.20

407:20 Action by Assignee. – If a policy has been transferred or assigned by the insured to a person to hold absolutely or as collateral security, with the assent of the insurer, the assignee may bring an action thereon in his own name or in that of the assignor, and may recover the full amount due upon the policy for the benefit of whom it may concern. Source. 1959, 163:1, eff. Jan. 1, 1960.